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LOTUS Bank opens 3 new branches in Lagos

The newest and third Non-Interest Bank in country, LOTUS Bank Ltd., has announced commencement of  operations in three new locations in Lagos.

By Itohan Abara-Laserian

The newest and third Non-Interest Bank (NIB) in the country, LOTUS Bank Ltd., has announced commencement of  operations in three new locations in Lagos State.

The Managing Director of LOTUS Bank Ltd., Mrs Kafilat Araoye, in a statement on Friday said that with the simultaneous opening of three new locations in Lagos, the bank now had physical presence in four locations.

According to her, to ensure its customers experience banking with ease, LOTUS Bank launches with digital offerings, for opening accounts online on its website and transact via USSD banking.

She added that the bank also offers issuance of free debit cards to account holders and zero account maintenance charge.

“With evolving digital solutions and a millennial generation coming into centre-stage, LOTUS Bank is bringing on board innovative and comprehensive non-interest compliant financial solutions in investment banking, consumer banking, asset management, private banking, and wealth management.

“We believe in fairness to all parties in every business transaction. This is a requirement for building any strong economy.

“Everyone can thrive where fairness prevails. Non-Interest Banking stands for equity and ethics in business, as well as growth for the real sector.

“Financial Inclusion is also a strong motive for setting up LOTUS Bank.

“The concept of financial inclusion targeting the unbanked and underbanked population cannot remain just a concept but must be seen as an actual necessity, for the nation’s economic growth,” Araoye noted.

According to the Founder and Chairperson,  Mrs Hajara Adeola, who is also the Founder and Managing Director of Lotus Capital,  the bank is starting its operations on a solid foundation of experienced leadership and a strong Advisory Council of Experts (ACE).

LOTUS Bank obtained its regional licence from the Central Bank of Nigeria in May 2021 as a commercial bank and commenced operations on July 7, 2021.

The new locations are located at Idumagbo, Allen Avenue, Ikeja and Oshodi Transport Interchange. (NAN) (

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